Lord Abbett & CO. LLC Trims Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Lord Abbett & CO. LLC trimmed its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 98.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,779 shares of the company's stock after selling 275,698 shares during the period. Lord Abbett & CO. LLC's holdings in Molina Healthcare were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tributary Capital Management LLC raised its stake in shares of Molina Healthcare by 76.1% during the 4th quarter. Tributary Capital Management LLC now owns 4,190 shares of the company's stock worth $1,219,000 after acquiring an additional 1,811 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Molina Healthcare during the fourth quarter valued at $544,000. Smartleaf Asset Management LLC lifted its holdings in shares of Molina Healthcare by 123.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 347 shares of the company's stock valued at $100,000 after buying an additional 192 shares during the period. SYM FINANCIAL Corp acquired a new position in Molina Healthcare in the fourth quarter valued at approximately $249,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in Molina Healthcare during the third quarter worth $2,947,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MOH shares. Mizuho lifted their price target on Molina Healthcare from $376.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Guggenheim assumed coverage on Molina Healthcare in a research report on Wednesday, April 9th. They issued a "neutral" rating for the company. UBS Group decreased their target price on Molina Healthcare from $374.00 to $325.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Barclays boosted their price target on shares of Molina Healthcare from $339.00 to $362.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Truist Financial increased their price objective on shares of Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $365.38.

Insider Activity

In related news, Director Richard M. Schapiro sold 669 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total transaction of $214,414.50. Following the sale, the director now directly owns 11,244 shares of the company's stock, valued at $3,603,702. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.33, for a total value of $301,330.00. Following the completion of the transaction, the director now owns 17,375 shares of the company's stock, valued at $5,235,608.75. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,169 shares of company stock valued at $28,520,995 in the last quarter. Insiders own 1.10% of the company's stock.

Molina Healthcare Price Performance

MOH stock traded up $5.00 during mid-day trading on Friday, reaching $318.04. The company's stock had a trading volume of 569,133 shares, compared to its average volume of 677,663. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The company's 50 day moving average is $322.25 and its two-hundred day moving average is $307.34. Molina Healthcare, Inc. has a fifty-two week low of $262.32 and a fifty-two week high of $365.23. The stock has a market cap of $17.24 billion, a PE ratio of 15.57, a P/E/G ratio of 1.06 and a beta of 0.70.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, topping analysts' consensus estimates of $5.96 by $0.12. The firm had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $10.86 billion. Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. The firm's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.73 earnings per share. Equities research analysts expect that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

Molina Healthcare Company Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.